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TXO PLC (TXO)

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Thursday 12 March, 2015

TXO PLC

Issue of Equity

RNS Number : 2099H
TXO PLC
12 March 2015
 

 

 

TXO PLC
("TXO" or the "Company")

Issue of equity

The Company announces that it has received notice of exercise of conversion rights in respect of £100,000 of the zero coupon Convertible Loan Note 2016 as announced on 7th October 2014. Following the issuance of the shares in the conversion, the balance of the Convertible Loan Note 2016 will be £400,000.

Under the convertible securities issuance deed, 100,000,000 Ordinary Shares therefore fall to be issued at a conversion price of 0.1p ("Conversion Shares").  As a result, 100,000,000Ordinary Shares, being the total of the Conversion Shares (the "New Ordinary Shares"), fall to be issued by the Company.

Following the conversion, Gavin McKinney will have a legal and beneficial interest in 100,000,000 Ordinary Shares representing 6.98% of the issued share capital.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission").  Admission is expected to take place on 17 March 2015.  The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 1,431,677,636 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. This figure of 1,431,677,636 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

12th March 2015

For further information, please contact:

TXO PLC
Tim Baldwin, Chairman                                                     +44 (0) 207 518 4300

Lothbury Financial Services Limited
Michael Padley / Chris Roberts                                       +44 (0) 203 440 7620


This information is provided by RNS
The company news service from the London Stock Exchange
 
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